An investigation into the club's financial activity began in March
Manchester City have been referred to the UEFA Club Financial Control Body adjudicatory chamber for a potential breach of financial fair play rules.
The Club Financial Control Body (CFCB) chief investigator has referred the club to the adjudicatory chamber following the conclusion of an investigation that began in March.
The CFCB began investigating City on March 7 after reports by media outlets, first uncovered in a series of leaks and reported by German publication
Der Spiegel, that the club had committed various breaches of Financial Fair Play.
UEFA has confirmed that they will not be commenting on the matter until a decision has been announced by the CFCB.
According to a
report by Rory Smith in the New York Times, a meeting at UEFA's Swiss headquarters two weeks ago discussed the possibility of at least a one-season ban from the Champions League for Pep Guardiola's side.
A Manchester City club statement read:
"Manchester City Football Club is disappointed, but regrettably not surprised, by the sudden announcement of the referral to be made by the CFCB IC Chief Investigator Yves Leterme.
"The leaks to media over the last week are indicative of the process that has been overseen by Mr. Leterme.
"Manchester City is entirely confident of a positive outcome when the matter is considered by an independent judicial body.
"The accusation of financial irregularities remains entirely false and the CFCB IC referral ignores a comprehensive body of irrefutable evidence provided by Manchester City FC to the Chamber.
"The decision contains mistakes, misinterpretations and confusions fundamentally borne out of a basic lack of due process and there remain significant unresolved matters raised by Manchester City FC as part of what the Club has found to be a wholly unsatisfactory, curtailed, and hostile process."
